Future Farm Technologies Inc (OTCMKTS:FFRMF) Sets Number Of Directors At Four For 2020: Appoints Dale Matheson Carr-Hilton LaBonte LLP As Auditors
Future Farm Technologies Inc (OTCMKTS:FFRMF) has announced the results of AGM held in Vancouver, British Columbia, on December 16, 2019. The members at the AGM have passed the following resolutions with a significant majority:
They have decided to set the number of directors on the board at four for the next year. Its new director board will comprise Scott McDermid, Craig Stanley, William Gildea, and Thomas Barrette. Future Farm has appointed Dale Matheson Carr-Hilton LaBonte LLP as auditors for 2020.
Contribution of Barrette
Barrette is a renowned business executive and attorney. He has significant experience in dealing with challenges like strategic partnerships with several parties, sophisticated financing needs, and government regulations.
Chief Executive Officer of Future Farm, William Gildea, said Barrette has been a consultant for the company for several years. The company is pleased to welcome Barrette to the director board because the company focuses on hemp-derived cannabidiol business, and his vision and business acumen will help to develop Future Farm.
Completes curing and drying of hemp
Future Farm has completed the curing and drying of seeds and hemp crops in Maine. The yields are higher than the current mechanism for plant bucking, storage, processing, and seed extraction. To handle higher yields, Future Farm is planning to purchase high capacity seed extraction/ cleaning equipment. It will also mobilize resources for storage and transportation needs.
CEPG Consulting and Design Inc, a Canadian subsidiary of Future Farm, have received an industrial hemp permit from Health Canada. The company also obtained a building permit earlier and now proceeds with hemp facility construction at 148 East White Hills Road.
CEPG entered a collaboration accord with The Memorial University of Newfoundland, and Rahan Meristem (1998) LTD earlier for a research program on cannabis. It has applied for a license to Health Canada for developing a research program to characterize elite cannabis clones.
Trends of demand and supply of cannabis
As of September 2019, the sales of dried cannabis are 12,922 kg against the inventory of 64,151 kg. The unfinished inventory of dried cannabis is 316,515 kg.
The demand for cannabis oil is estimated at 11,187 kg as of September 2019 against the inventory of 102,060 kg.